Published: 2025-04-10T13:41:24.000Z
Chart AUD/USD Update: Extending corrective gains
Senior Technical Strategist
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The bounce from the fresh 2025 year low at 0.5913 has reached congestion resistance at 0.6200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | ** | break level | S1 | 0.6000 | ** | historic congestion | |
| R3 | 0.6300 | ** | congestion | S2 | 0.5913 | * | 9 Apr YTD low | |
| R2 | 0.6250 | * | break level | S3 | 0.5700 | * | late-Mar 2020 (w) low | |
| R1 | 0.6200 | ** | congestion | S4 | 0.5500/05 | ** | March 2020 (y) low |
Asterisk denotes strength of level
14:30 BST - The bounce from the fresh 2025 year low at 0.5913 has reached congestion resistance at 0.6200, where flat overbought intraday studies are expected to prompt short-term reactions. Daily stochastics and the daily Tension Indicator are improving, suggesting room for a break above here towards 0.6250. But negative weekly charts are expected to limit any further extension beyond here in consolidation beneath congestion around 0.6300. Meanwhile, any tests lower should be limited in fresh consolidation above strong support at congestion around 0.6000.